How products are classified in the consumer products classification system

Product Mix / By

In marketing textbooks, when discussing the product mix, it is common to present a classification system for consumer products. Typically, the four following categories are utilized to classify consumer products, and as shown in the below diagram:Convenience productsShopping productsSpecialty productsUnsought productsConvenience productsConvenience products are those products that consumers purchase on a frequent basis – perhaps […]

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Consumer Products Classification System

Marketing Mix, Product Mix / By

The consumer products classification system is a model commonly presented in most marketing principles textbooks in the product mix chapter. This model classifies as consumer products into one of four classes, namely:Convenience productsShopping productsSpecialty productsUnsought productsThere are numerous articles discussing the consumer products classification system on this website, please refer to Related Topics at the

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Product at the center of the marketing mix

Introductory Concepts, Marketing Mix, Product Mix / By

The importance of product in the marketing mixMarketing textbooks typically list all four elements (that is, the 4P’s) of the marketing mix equally in their diagrams. However, these textbooks usually structure product as the first chapter of the marketing mix. This clearly indicates there is some hierarchy to the importance of products in the overall

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Risks of new-to-the-world products

Marketing Strategy, New Product Process, Product Mix / By

 New-to-the-world products are one of several classifications of new products (please see separate article). Other classifications of new products include: new categories, product line extensions, product improvements and product repositioning.Risks of new-to-the-world productsAlthough there are many potential advantages, as outlined above, for introducing a new-to-the-world product, this type of product carries significant risk and responsibility

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Challenges of a New Category Entry

New Product Process, Product Mix / By

 A new category product is one of several classifications of new products (please see separate article). Other classifications of new products include: new-to-the-world products, product line extensions, product improvements and product repositioning.When a firm introduces a new type of product to the firm, which is an established product in the marketplace, this is known as

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Challenges of a product line extension

New Product Process, Product Mix / By

 The challenges of a product line extension include:Potential product cannibalizationMinor increases in sales volumeCluttering or confusing the marketLess efficiency of production and marketingUnresponsive retail channelsPotential product cannibalizationProbably the main concern with a product line extension, particularly for a simple variation of an existing brand/product – such as a flavor or size variation – is cannibalization

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When to use customer journey maps?

Branding, Promotion Concepts, Services Marketing / By

 Customer journey mapping is a visual technique designed to outline how:The brand reaches a consumer’s consideration (evoked) setHow the consumer progresses through the buying decision process and selects a suitable brand, andThe consumer progresses through consumption and/or use of the product or service.When to use customer journey maps?Because of the nature and the role of

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